Be Cautious for MRDIYWe noticed MRDIY has recently failed to close above 3.20, subsequently closed below an uptrend line this week coincides a negative divergence seen on MACD. We also noticed a formation of Parabolic Curve which reduce our optimism on the bullishness. We would suggest to lighten holding or take profit for earlier long positions; or cut losses on current price level, or daily close below 2.73.
Disclaimer: Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment base on your own personal circumstances. The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
MRDIY trade ideas
MR D.I.Y GROUP (20-DECEMBER-2020)Since its IPO, the stock has been increasing steadily and moving within an uptrend channel.
The price just penetrated above a upper flat trendline of ascending triangle and the trend is expected to continue to rise with some healthy pullbacks.
EP: 3.2
Next R/ TP:
• 3.315 of upper uptrend channel (coincides with 100% FE & ascending triangle target)
• 3.67 (168% FE)
Support:
• 3.095 (flat trendline of ascending triangle)
• 3.055
Risk and Reward - 0.115: 0.105 or 1:0.9
Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.
MRDIY - UpdateAs posted on Nov 20, MRDIY is edging higher to our target level at 2.8. We will take a close look at this level for continuation or reversal.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
MYDIY - Bullish continuationMomentum building up seen on MACD histogram coincide MACD buy signal above zero level. Our view is still Bullish as the stock is trading above the uptrend line, breaking a Pennant with a strong Bullish candle as continuation buy signal. The stock could be reaching Fibonacci resistance at 2.79 before making the next correction/reversal.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.